Papa Johns 2008 Annual Report Download - page 41

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34
attributable to the minority interest holder. This statement also requires that companies provide sufficient
disclosures to clearly identify and distinguish between the interests of the parent company and the
interests of the noncontrolling owners, including a disclosure on the face of the consolidated statements
for income attributable to the noncontrolling interest holder. This statement is effective for fiscal years
beginning on or after December 15, 2008 or for our first quarter of 2009. Early adoption is prohibited.
The adoption of this statement is not expected to have a significant impact on Papa John’s consolidated
financial statements.
In March 2008, the FASB issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging
Activities — An Amendment of FASB Statement No. 133. SFAS No. 161 enhances the required
disclosures regarding derivatives and hedging activities, including disclosures regarding how and why an
entity uses derivative instruments, how derivative instruments and related hedged items are accounted for
under SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities, and how derivative
instruments and related hedged items affect an entity’s financial position, results of operations and cash
flows. SFAS No. 161 is effective for fiscal years beginning after November 15, 2008 or our first quarter
of fiscal 2009.